New Issue: Barclays prices $8.98 million principal-protected notes linked to currency basket

By Angela McDaniels

Seattle, April 25 - Barclays Bank plc priced an $8.98 million issue of zero-coupon principal-protected bear notes due April 28, 2008 linked to a basket of currencies, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Chinese yuan, Indonesian rupiah, Indian rupee, Japanese yen and Malaysian ringgit.

The payout at maturity will be par plus 170% of the absolute value of any loss recorded by the basket against the dollar. Investors will receive at least par.

Barclays Capital Inc. is the agent.

Issuer:	Barclays Bank plc
Issue:	Principal-protected bear notes
Underlying basket:	Chinese yuan, Indonesian rupiah, Indian rupee, Japanese yen and Malaysian ringgit, equally weighted
Amount:	$8.98 million
Maturity:	April 28, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 170% of the absolute value of any loss recorded by the basket; floor of par
Initial exchange rates:	7.7345 yuan per dollar; 9,061.81 rupiah per dollar; 40.75 rupee per dollar; 118.52 yen per dollar; 3.42 ringgit per dollar
Pricing date:	April 24
Settlement date:	April 27
Agent:	Barclays Capital Inc.
Agent fees:	0.75%

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